5 questions with Paul Jackson
02/20/2014 12:00 AM
08/08/2014 10:22 AM
The SunStone Apartment Homes in Andover are still under construction, but some units are ready and are being leased.
“We’ve taken our first occupants out there,” said Vantage Point Properties president Paul Jackson. “To us, it’s kind of a landmark point in the process.”
The complex is part of Andover MarketPlace, where there’s a Dillons Marketplace, the Andover YMCA and an elementary school, all of which have purchased land from Jackson.
Jackson initially purchased 80 acres east of Kellogg and Andover Road and then bought another 70.
The apartments are at 711 E. Cloud. That’s south of Kellogg, a half-mile east of Andover Road.
Jackson said SunStone is the first new apartment complex to be built in Andover in more than a decade.
Of the complex’s 208 units, 20 have been leased in the three weeks since leasing began.
Jackson said there will be 22 buildings in the complex. One will be ready every two weeks through their completion in July.
The units feature granite countertops, open floor plans and vaulted ceilings on the upper floors, Jackson said.
“They feel spacious.”
Q. 1 How is leasing going so far?
A. The leasing’s gone very, very well for us out there. The demand and the interest … has been very, very good. We remain cautiously optimistic.
Q. 2 What makes this complex special?
A. It impacts the community. There really hasn’t been lots and lots of choice for people in the community … to rent.
Q. 3 The units seem upscale. Is there a demand for that?
A. We’ve done our homework. The rents are right in the market, but we tried to deliver a high-end product.
Q. 4 This isn’t like the apartment complexes of old, is it?
A. They’re far nicer than anything I ever lived in when I rented.
Q. 5 So what’s next for Vantage Point?
A. We’re opportunistic. … So we are continuing to grow and looking to grow the commercial side of the business. So the office and/or retail development. And we’re also looking at the possibility of more projects like SunStone.